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FedEx Acquires TNT Express

May 25, 2016

Combination Builds Upon Competitive Positioning in Global Transportation and Logistics Industry
* FedEx has settled the TNT Express Shares tendered in the Acceptance Period
* Remaining Shares can still be tendered in the Post-Closing Acceptance Period
Memphis, USA, 25 May 2016 -/African Media Agency (AMA)/- FedEx Corporation (FedEx) (NYSE:FDX), FedEx Acquisition B.V. (the Offeror) and TNT Express N.V. (TNT Express) jointly announce that FedEx has acquired TNT Express. The €4.4 billion acquisition combines the strengths of the companies – the world’s largest air express network and an unparalleled European road network, which will expand the existing FedEx portfolio and reshape the global transportation and logistics industry.

“This acquisition is a significant accomplishment and marks the beginning of a new era, filled with promise for our people, customers and shareowners,” said Frederick W. Smith, Chairman and CEO of FedEx. “We are proud to celebrate the joining of two iconic companies and the approximately 400,000 team members who are committed to serving customers around the world.

“The timing of this historic event is important, particularly in the current market environment where global e-commerce is growing at double-digit rates,” Smith added. “Adding TNT’s capabilities to our existing world-class suite of services, including GENCO and the recently relaunched FedEx CrossBorder, will further expand the ability of FedEx to support business connections around the world.

“Over our 43 year history, FedEx has repeatedly reinvented and revolutionized the industry, from the first overnight express service backed by a money-back guarantee to the invention of internet shipping. And just as we revolutionized the U.S. domestic parcel business through the acquisition and development of what is now FedEx Ground, the acquisition of TNT will change the way customers view FedEx around the world,” Smith continued.

“We believe that this strategic acquisition will add significant value for FedEx shareowners, team members and customers around the globe, particularly in Europe where we will establish a strong new competitor,” said Alan B. Graf, Jr., FedEx Executive Vice President and Chief Financial Officer. “The TNT team members bring 70 years of diverse experience, which combined with that of FedEx team members, will make this integration a success.”

Now that FedEx has acquired TNT Express, the integration process will begin immediately. The FedEx track record of successful acquisition integrations in the U.S. and globally will serve the combined companies well to leverage investments in technology, infrastructure, facilities and operational capabilities to position the combined companies for long-term growth and success.

In the near term, customers can expect to interact with each company as they always have and receive the world-class service they have come to expect. Once the integration is complete, FedEx expects customers to enjoy an expanded global offering that draws upon the breadth of expertise from both companies.

Together, FedEx and TNT Express will continue to make a difference in the lives of people around the world, further supporting the communities in which team members live and work, connecting even more people and possibilities.

Live Webcast
David Bronczek, President and CEO, FedEx Express, David Binks, President of FedEx Express Europe and Tex Gunning, CEO of TNT Express will host a press conference today at 11:00 hours CET at The Conservatorium Hotel Amsterdam, which will be also available via live webcast at the following web address:

Additional media resources are available through the FedEx Newsroom and TNT Media Center.

Post-Closing Acceptance Period
Shareholders may tender their shares under the Offer during a post-closing acceptance period (na-aanmeldingstermijn) which commenced at 09:00 hours, Amsterdam time, on 19 May 2016 and will expire at 17:40 hours, Amsterdam time, on 1 June 2016 (the Post-Closing Acceptance Period).The Offeror has agreed that it will accept valid tenders of book-entry ADSs until 17:00 hours New York time on 1 June 2016.

Shareholders who have not yet tendered their Shares under the Offer still have the opportunity to do so during the Post-Closing Acceptance Period.

Remaining Shareholders who do not wish to tender their Shares during the Post-Closing Acceptance Period should carefully review the sections of the Offer Document that further explain the intentions of the Offeror and/or FedEx, such as (but not limited to) Sections 6.13 (Intentions following the Offer being declared unconditional) up to and including 6.16.6 (Other measures), which describe certain implications to which such Shareholders may become subject with their continued shareholding in TNT Express.

Distributed by African Media Agency (AMA) on behalf of FedEx Corp.

About FedEx Corp.
FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $49 billion (not including TNT Express), the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its nearly 400,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities to connect people and possibilities around the world.

For more information, please visit or contact:

Patrick Fitzgerald
Phone +1 901 818 7300

Media Contact – Europe
Michelle Fresco Burson-Marsteller
Mobile +31 (0)70 3021191

FedEx Investor Relations
Mickey Foster
Phone +1 901 818 7468

About TNT Express
TNT Express is one of the world’s largest express delivery companies. On a daily basis, TNT Express delivers close to one million consignments ranging from documents and parcels to palletised freight. The company offers road and air delivery services in Europe, the Middle East and Africa, Asia-Pacific and the Americas. TNT Express made €6.9 billion in revenue in 2015.

For more information, please visit or contact

Cyrille Gibot (TNT)
Phone +31 88 393 9390
Mobile +31 65 113 3104

Investor Relations
Gerard Wichers
+31 88 393 9500

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